There’s finally proof for what top real estate agents have known all along. It pays to hire an experienced agent. According to a recent study by The Journal of Housing Research, the more experience you have, the more likely you are to sell your own listings and to sell them at a higher price in less time.
The statistics verified that it makes more sense to home sellers to hire the agent with the most experience. The findings were as follows:
- Veteran agents with 10 years or more experience sold comparable homes for 12% more than less experienced agents.
- Veteran agents are 1.6 times more likely to sell the properties they list.
- Veteran agents sell homes in 32% less time than other agents.
The results are logical if you consider that for the most part, experienced agents have:
- Greater knowledge of neighborhoods
- A larger network of perspective buyers
- Stronger relationships with appraisers
- Greater confidence
What does this mean to home sellers? If they want to have the most success selling their home for the most money and in the least amount of time, they must hire an experienced agent.